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Owala Ltd . follows a residual dividend policy and maintains a constant debt - equity ratio. There are 1 5 , 0 0 0 shares

Owala Ltd. follows a residual dividend policy and maintains a constant debt-equity ratio. There are
15,000 shares of stock outstanding at a market price of $10 a share. There are 300 bonds outstanding,
which are selling at 95% of their $1,000 par value. The projected spending on capital projects is
$180,000 for next year. Earnings for next year are estimated at $70,000. What is the projected
dividend amount per share? (Please round weights to 4 decimals

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